CHICAGO, Ill. – February 17, 2022 – MedHQ, a leading provider of HR and financial management services to healthcare providers across the country, announced today the completion of a strategic investment from 424 Capital, a growth capital partner that specializes in helping healthcare businesses offering technology enabled services achieve next level growth.
MedHQ will leverage 424 Capital resources to expand its service offerings, recruit new talent, and to enter new markets within healthcare.
“We founded MedHQ to help our healthcare clients with one of the most critical functions of their business: attracting, managing, and retaining talent,” said Tom Jacobs, CEO of MedHQ. “424 Capital brings operational expertise to build on our model and launch our next phase of growth. We are proud to partner with stewards who share our passion for innovation and utilizing technology-driven solutions to positively impact an industry that has faced unprecedented challenges.”
Headquartered in Westchester, Illinois, MedHQ’s model improves HR operations and reduces costs and risk through best practices and innovative solutions.
“424 Capital is excited to partner with Tom and the entire MedHQ team. Their robust service offering significantly reduces the back-office burden of healthcare organizations so they can focus their attention to the biggest priority of all, patient care. 424 is thrilled to be part of the next phase of MedHQ’s journey,” remarked Kyle Stanbro, Partner at 424 Capital.
Founded in 2003, MedHQ provides human resources and financial management services to ambulatory surgery centers and physician practices nationwide.
Within its HR offering, MedHQ provides payroll, tax, benefits, insurance, credentialing, and consulting services to its clients via a tech-enabled platform. The company also provides customized accounting services including monthly reporting, KPI tracking, forecasting, AP automation and profitability analysis. MedHQ allows healthcare organizations to focus on patient outcomes rather than the administrative and regulatory burdens that come with managing a healthcare organization. For more information, please visit medhq.com.
About 424 Capital:
424 Capital is a growth capital partner that invests in lower middle market companies within technology and tech enabled services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in healthcare and renewable energy, we invest in, empower, and enable companies to step up, stand out, and make a difference in the world. For more information about 424 Capital, please visit 424capital.com.